Statement Regarding Legislative Action on Property Taxes (LB 958)

LINCOLN, NE – “We appreciate the Legislature’s work today in advancing LB 958 for further consideration. This measure provides much needed additional dollars into the state’s property tax credit program targeted to providing immediate relief to Nebraska’s farm and ranch families who have been hit the hardest by skyrocketing property tax bills. Over the last decade property taxes collected on agricultural land have increased 176 percent.”

“Further, we appreciate the discussion on the legislative floor the last couple of days regarding the need for collaborative efforts to make structural changes to Nebraska tax policy that addresses the property tax issue for all Nebraskans. Those discussions set the stage for additional work on the property tax issue during the interim and into the 2017 legislative session.”

“Nebraska Farm Bureau is committed to working with the Legislature to address the broader issue of property taxes. The harsh reality is that property taxes are carrying far too heavy a load in our overall tax system. Property taxes account for 48 percent of the total combined property, income and sales tax collections statewide.”

“It is imperative we work together as Nebraskans to develop a strategy to make the needed structural changes to better balance our tax system, including reforms in the way we fund schools in Nebraska given that roughly 51 percent of total school spending in Nebraska comes from property taxes, while nationally, the average is 32 percent. How we fund education must be addressed moving forward.”

The Nebraska Farm Bureau Federation is a grassroots, statewide organization dedicated to supporting farm and ranch families and working for the benefit of all Nebraskans through a wide variety of educational, service and advocacy efforts. More than 61,000 families across Nebraska are Farm Bureau members, working together to achieve rural and urban prosperity as agriculture is key to fueling Nebraska’s economy. For more information about Nebraska Farm Bureau and agriculture, visit www.nefb.org.